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marred in the red. a japanese electronics giant loses its competitive edge in the market for digital appliances. japanese electronic makers don't like the picture they're seeing. sharp is expected to post a record loss, $5.6 billion for the year ending next march. executives have seen poor results in the core business, selling tvs. managers have seen sluggish tv sales month after month and they've watched prices fall in europe and emerging markets in asia. sharp posted an extraordinary loss in the six-month period that ended in september. first-half losses are expected to reach about $4.8 billion, 80% more than initially projected. this is the second consecutive yearly loss. executives have told lenders they'll lead a return to the black.
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the plan to push sales of smaller mid-size lcd panels for smartphones and computers. the people at sharp aren't alone among japanese electronics makers. panasonic announced on wednesday it will post a net loss of nearly $9 billion this year. executives there, too, have seen losses for a second year running. greek leaders have looked into share books and know they face the risk of a default and soon. they hoped another bailout would help them breach the gap but eurozone finance ministers say greeks need to make more changes before they'll release the funds. finance ministers from 17 countries held a conference to discuss the bailout. they said in a statement that greek leaders had yet to agree with their creditors on specific austerity measures. the european union, european commission, and international monetary fund are superviszing the bailout. representatives say greeks must bring in more spending cuts to receive 31.5 billion euros in
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new loans. the finance ministers urged government leaders to reach a consensus on labor reforms, too. the ministers will visit the issues when they meet again in two weeks. greek leaders seem to be taking that pressure seriously. they've submitted a revised draft budget to parliament outlining yet more austerity. they proposed reductions to spending of more than 9 billion euros. they intend to submit bills next week to cut pensions and the salaries of civil servants. government leaders expect the europe economy will contract next year by 4.5%. they're urging their creditors to lease rescue loans as soon as possible. but many greeks are growing increasingly frustrated with the severely of the cuts. major unions announced a 48 hour general strike for next week. while the eu pressures greece, its own spending poli policies are undefined in britain. members of prime minister's david cameron's own party backed
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an opposition amendment calling for a smaller eu budget. opposition lawmakers say increasing funding for the regional body is unacceptable. the eu plans to expand its budgets for seven years starting in 2014. prime minister cameron had been surging members of parliament to back a spending freeze. >> and i'm quite prepared to use the veto if we don't get a deal that's good for britain. let's be clear, mr. speaker, it is in our interest to try to get a deal because a seven-year freeze would keep our bills down compared to annual budgets. >> the amendment passed with support from the main opposition labor party and several dozen members of cameron's ruling conservative party. british lawmakers skeptical of more european integration are likely to keep pressure on the government to take a tough stand on eu spending. the amendment is nonbinding but it has put cameron in a difficult position ahead of an eu summit in late november. executives in japan are
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seeing the impact of the global economic slowdown in their latest reports. almost a third of japanese companies on the tokyo stock exchange released lowered earnings predictions this week. firms doing business in china are seeing the sharpest declines. nhk world tells us why. >> reporter: on monday honda motor revised down its numbers for the business year, next march. expects its net profit to fall 20% in yen terms from a previous estimate and to sink by nearly 5%. in china the oil market is a major factor. >> translator: i think the impact of the worsening japan/china relations on our business will remain until next february. >> reporter: last year, china accounted for 20% of honda's
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global sales. the company considers it's a key market with more growth potential. but the chinese economy has been slowing down since last year. in the july to september period, gdp shrunk for the second quarter in a row. turned out sluggish. what made the situation worse for honda and other japanese automakers was the dispute of islands in the east china sea. it triggered anti-japan demonstrations across china. some chinese consumers, japanese cars, and the trend is expected to continue for some time. according to analysts, if output in china is cut by 30% from september to december, the profit for nissan and honda
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could decrease by over 20%. the territorial dispute is also affecting other sectors. enjoying increasing demand in china. its sales had grown about 15% in the first half of the fiscal year. but now the company expects growth in the second half to slow to around 5%. >> translator: consumer preference for japanese products is uncertain, and we need to keep watching the trend and demand. but we will continue to develop our business in china as a key market. >> reporter: sales of cannon products like digital cameras have been strong in china. the proportion of its global
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sales from china almost doubled during the last decade or so. the maker forecasts the net profit could fall nearly 6% from last year. the firm predicts its first declines in both sales and profit in three years. specialists say that even if the chinese economy starts recoverying, japanese firms may not be able to reap the benefits because of the strained bilateral ties. >> translator: japanese companies have come to a turning point to rethink their plans in china. it depends on the bilateral relations how much they could benefit from the chinese economic growth. if the worsened relations continue, japanese firms might lose their business and they also would be cautious about investing in china. >> reporter: china remains a big market for japanese companies, but now they're facing the difficult challenge of devising
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viable strategies for business opportunities. nhk world. >> and the uncertainty in china prompted some japanese businesses to build up their presence in other markets. major supermarket chain in malaysia is now one of the largest retailers in the country. purchased the change from a french retailer which ran 26 major outlets in malaysia. the business is valued at more than $320 million. it already has 2 stores in the country including shopping malls. this acquisition will bring the company's annual sales in malaysia so $1.5 billion. japanese department stores and supermarket
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tavis: good evening. from los angeles, i am tavis smiley. from los angeles, i am tavis smiley.

WHUT November 1, 2012 7:30am-8:00am EDT

News/Business. World events, business news and weather forecasts; broadcast in English. (CC) (Stereo)

TOPIC FREQUENCY China 13, Eu 5, Honda 4, Malaysia 3, Tavis Smiley 2, Nhk 2, Euros 2, Europe 2, Britain 2, Los Angeles 2, European Union 1, Cameron 1, David Cameron 1, Panasonic 1, Mr. Speaker 1, Tokyo 1, Us 1, The East China Sea 1, Asia 1, Greece 1
Network WHUT
Duration 00:30:00
Scanned in Annapolis, MD, USA
Source Comcast Cable
Tuner Channel 78 (549 MHz)
Video Codec mpeg2video
Audio Cocec ac3
Pixel width 528
Pixel height 480
Sponsor Internet Archive
Audio/Visual sound, color